Changzhou, China [RenewableEnergWorld.com] Trina Solar last week announced that it intends to offer, subject to market and other conditions, 7,900,000 American depositary shares (ADSs), each representing 50 ordinary shares of the company. Trina Solar intends to grant the underwriters an option to purchase up to additional 1,185,000 ADSs.
The company said that it plans to use the net proceeds of the offering to expand manufacturing facilities for the production of PV cells and modules, for research and development purposes, including the expansion of its research and development center, and for downstream projects and general corporate purposes. Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C. and Barclays Capital Inc. are acting as bookrunners.
Earlier this year, Trina annoucned that it was making a major push to enter the U.S. solar market. RenewableEnergyWorld.com’s Graham Jesmer caught up with Trina Solar’s Jim Day at Renewable Energy World North America to talk about the company’s entry into the U.S. as well as the factors that went into making the decision.
Play the video below to hear more.